Detailed financials available on request
LAND: The subject property is a rectangular site of 2 803m2 . (Two Thousand Eight Hundred and Three square meters.) LOCATION: The stand is level and is situated opposite First Beach. It faces due East. Access is directly off Marine Drive, which is tarred. ZONING: GENERAL BUSINESS. Allows places of refreshment, shops, businesses, residential buildings, dwelling units, places of worship, places of instruction and social halls. The property has been rezoned for General Business usage. Plans are far advanced for an upmarket Hotel and apartment development to be erected on the site. All the building plans for the development have been passed by the local authority. The Record of Decision is in place. The site is considered to be ideal for development. It has a magnificent view over the sea, located within a subtropical climate and frost-free conditions. Properties are sought after by buyers in Marine Drive, which is considered to be one of the best residential areas in Port St Johns. A property evaluation by an independent Valuator, indicates a market value of R5 500 000.00, and is available for perusal.